Qiagen assumed with Buy from Hold at Jefferies

Jefferies analyst Tycho Peterson upgraded Qiagen (QGEN) to Buy from Hold with a price target of $54, up from $42.50, after assuming coverage of the name. With a leading position in the high-margin sample prep market, Qiagen has a solid foundation to support its “Five Pillar growth strategy” that implies near double-digit earnings growth through 2028, the analyst tells investors in a research note. The firm sees “multiple ways” for the shares to “grind higher.” After three years of negative growth, the stock is “poised for a run on execution,” contends Jefferies.